64,880 Shares in Brown & Brown, Inc. $BRO Acquired by Capital International Inc. CA

Capital International Inc. CA acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 64,880 shares of the financial services provider’s stock, valued at approximately $5,171,000.

Other institutional investors have also recently modified their holdings of the company. Basepoint Wealth LLC acquired a new position in Brown & Brown in the 4th quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Brown & Brown in the 2nd quarter valued at $30,000. Board of the Pension Protection Fund acquired a new position in Brown & Brown in the 4th quarter valued at $40,000. Maseco LLP acquired a new position in Brown & Brown in the 4th quarter valued at $60,000. Finally, eCIO Inc. acquired a new position in Brown & Brown in the 4th quarter valued at $67,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 1.5%

Shares of NYSE BRO opened at $57.95 on Tuesday. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $111.10. The company has a market cap of $19.64 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.71 and a beta of 0.63. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $61.49 and a 200 day moving average price of $70.34.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s quarterly revenue was up 35.4% compared to the same quarter last year. Research analysts anticipate that Brown & Brown, Inc. will post 4.51 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio is currently 21.22%.

Analyst Upgrades and Downgrades

BRO has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Barclays cut their price target on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Bank of America cut their target price on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Truist Financial cut their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada cut their target price on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $79.44.

Insider Transactions at Brown & Brown

In related news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the acquisition, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.13% of the company’s stock.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.